Amazon to purchase MGM for $Eight billion in main enhance to Prime Video library

Illustration of the MGM logo with a picture of Jeff Bezos instead of a lion, James Bond actor Daniel Craig, and a man wearing a jacket with an Amazon logo.

Enlarge (credit score: Aurich Lawson | Steve Jurvetson)

Amazon at this time introduced a definitive settlement to purchase MGM (Metro-Goldwyn-Mayer) for $8.45 billion. Amazon mentioned that MGM’s filmmaking prowess “enhances the work of Amazon Studios, which has primarily centered on producing TV present programming.”

Shopping for MGM would let Amazon add loads of motion pictures to its Prime Video streaming service. It isn’t clear whether or not MGM’s theatrical-release technique would change. “Amazon will assist protect MGM’s heritage and catalog of movies and supply clients with higher entry to those present works. Via this acquisition, Amazon would empower MGM to proceed to do what they do finest: nice storytelling,” the merger announcement mentioned.

Amazon mentioned the acquisition “is topic to regulatory approvals and different customary closing circumstances” however didn’t present an estimated time limit. The acquisition announcement got here a few week after information experiences revealed the negotiations.

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